USA: Corn posts solid gains, soybeans slide lower

Published Sep 6, 2022

Tridge summary

Grain prices were mixed but mostly higher on Tuesday as traders resumed a holiday-shortened week, with corn prices showing the most upside due to concerns about U.S. crop quality and production potential. Wheat prices also made moderate inroads, but soybeans failed to follow suit due to improved exchange rates in Argentina. Some parts of the Northern Plains and upper Midwest will see rainfall in the coming days, but large portions of the Corn Belt will not. The Dow sank 160 points lower in afternoon trading due to concerns about interest rates moving aggressively higher. Corn export inspections for the week ending September 1 declined moderately, and soybean export inspections moved moderately higher. Wheat export inspections faded moderately, and the European Union's 2022/23 soft wheat exports reached 228.2 million bushels through September 3, slightly above last year’s pace.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain prices were mixed but mostly higher on Tuesday as traders resumed a holiday-shortened week today. Corn prices showed the most upside, with prices rising more than 1.5% higher on lingering concerns about U.S. crop quality and production potential. Wheat prices also made moderate inroads today. Soybeans failed to follow suit, however, with Argentina offering an improved exchange rate to farmers - a move that is likely to boost short-term sales. The news had U.S. prices trending more than 1.25% lower. Some parts of the Northern Plains and upper Midwest will see some rainfall between Wednesday and Saturday, but large portions of the Corn Belt won’t see any measurable moisture during that time, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s new 8-to-14-day outlook predicts near-normal to slightly dry precipitation totals in the Midwest between September 13 and September 19, with most of the United States likely to see above-normal temperatures On Wall ...

Source: Prairie Grain Partners